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Highlights:
Confluence Investment Management LLC reduced its stake in Northern Trust by 0.7% during the third quarter of 2024, now holding over 1.1 million shares.
Institutional investors continue to dominate ownership of Northern Trust, with 83.19% of shares held by hedge funds and other large entities.
Northern Trust declared a quarterly dividend of $0.75 per share, equating to a 2.85% annual dividend yield.
Confluence Investment Management LLC trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 0.7% in the third quarter of 2024, according to its latest SEC filing. The asset manager now owns 1,149,397 shares of Northern Trust, valued at approximately $103 million. Despite the reduction, Northern Trust remains the 24th largest holding in Confluence Investment’s portfolio, comprising about 1.4% of its total assets.
Other institutional investors have also made adjustments to their positions in Northern Trust. For example, Olistico Wealth LLC and Innealta Capital LLC both acquired new stakes in the company, while Versant Capital Management significantly increased its holding by 343.9%. As of the latest report, institutional investors own 83.19% of Northern Trust’s shares, highlighting its ongoing appeal to large financial entities.
Northern Trust has seen varied analyst opinions recently. Some analysts, such as those from UBS Group and Deutsche Bank, have raised their price targets on the stock, reflecting a neutral or hold rating. Meanwhile, Evercore ISI and Bank of America have increased their price targets, suggesting positive sentiment toward the company. The consensus rating for Northern Trust currently stands at "Hold," with analysts forecasting an average price target of $99.33.
In addition, Northern Trust recently announced a quarterly dividend of $0.75 per share, set to be paid on January 1, 2025, to stockholders of record on December 6, 2024. The dividend represents an annualized payout of $3.00 per share and yields 2.85%. With a relatively low payout ratio of 37.31%, Northern Trust maintains a balanced approach to capital allocation.
Northern Trust is a global financial services company, providing asset servicing, wealth management, and banking solutions to a wide range of clients, including corporations, institutions, and individuals.
